Ursula von der Leyen said the E.U. needs to prepare for a complete cut-off of Russian gas
. Member countries have agreed to ban 90% of Russian oil by year-end in addition to a ban on imports of Russian coal that will start in August.
The EU has not included gas — a fuel used to power factories and generate electricity — in its own sanctions for fear of seriously harming the European economy. Before the war in Ukraine, it relied on Russia for 25% of its oil and 40% of its natural gas.To slash its use of Russian energy, the European Commission has been diversifying suppliers.
“And our efforts are already making a big difference,” von der Leyen said. “Since March, global LNG exports to Europe have risen by 75% compared to 2021. LNG exports from the U.S. to Europe have nearly tripled.” In the meantime, the average monthly import of Russian pipeline gas is declining by 33% compared with last year, von der Leyen said as she called for a speedy transition toward renewable sources of energy.
“Some say, in the new security environment after Russia’s aggression, we have to slow down the green transition. This transition would come at the ‘the cost of basic security’, they say. The opposite is true. If we all do nothing but compete about limited fossil fuels, the prices will further explode and fill Putin’s war chest,” she said. “Renewables are home-grown. They give us independence from Russian fossil fuels. They are more cost-efficient. And they are cleaner.
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